Mumbai, Dec 29 (IANS): Brokerage firm Angel Broking Monday said it will appoint Vinay Agrawal as its chief executive officer with effect from Jan 1, 2015.

“During this time of transformation, when the economic changes would boost the overall business sentiments and would have huge benefits particularly for all businesses related to equity market, there is no better person to take the position of CEO than Vinay,” said Dinesh Thakkar, managing director, Angel Broking.

According to the company, during the second half of current year the company saw its daily average retail revenue increase by almost 20 percent, new customer acquisition increased by 35 percent and an increase in sub-brokers by 20 percent growth rate.

The company added that its robust systems, processes and adaptation to newer technologies have helped the firm to increase the online trading portfolio, which contributes to almost 25-30 percent in overall revenue.